Market Overview for Chainlink/Tether (LINKUSDT)

Summary
• Price dipped to a 24-hour low of $13.10 before a late recovery attempt to $13.44.
• Volume surged near 17:00 ET, coinciding with a key breakout attempt.
• RSI showed overbought levels in the final 2 hours, indicating possible exhaustion.

Chainlink/Tether (LINKUSDT) opened at $13.19 on 2026-01-08 12:00 ET, reached a high of $13.44, dipped to a low of $13.05, and closed at $13.14 on 2026-01-09 12:00 ET. Total volume was 1,204,209.85, and notional turnover amounted to $15,731,293.28 over the 24-hour period.

Structure & Formations

The price action displayed a bearish engulfing pattern around 20:15 ET, followed by a bullish harami near 16:45 ET. Key support levels emerged at $13.10–13.15, while resistance solidified between $13.28 and $13.35. A potential double-bottom formation was visible after the $13.05 low, suggesting a cautious buy opportunity if the level holds.

Moving Averages

On the 5-minute chart, price traded above the 20-period MA in the final 3 hours, indicating short-term bullish momentum. The 50-period MA acted as dynamic support around $13.20. Daily MAs (50, 100, and 200) remained untested due to consolidation, but a break above $13.44 could challenge the 200-day MA.

MACD & RSI

The MACD crossed into positive territory after 15:30 ET, aligning with a late buying surge. RSI peaked at 72 near the close, suggesting short-term overbought conditions. While this may signal a pullback, it could also indicate conviction if buying pressure persists.

Bollinger Bands

Volatility expanded significantly after 15:00 ET, with price reaching the upper band at $13.44. A contraction occurred around 09:00–11:00 ET, followed by a breakout. Price remains near the upper band, suggesting potential for continued bullish momentum if the channel holds.

Volume & Turnover

Volume spiked to 92,650.01 at 15:45 ET, coinciding with the final leg of the rally. Turnover reached $1,360,217.23 at that time, confirming the breakout attempt. A divergence between price and volume appeared around 14:15 ET, where price dipped sharply but volume remained moderate, signaling caution for short-term traders.

Fibonacci Retracements

The $13.10 low to $13.44 high defined a 34-period 5-minute swing. Key Fibonacci levels at 38.2% ($13.29) and 61.8% ($13.23) were clearly tested, with price consolidating near 50% ($13.32). On the daily chart, the 61.8% retracement from the January 2026 high may now reside near $13.50, providing a near-term ceiling if bullish momentum continues.

The market appears to be testing the boundaries of a consolidation range, with potential to break out northward if $13.44 is cleared. However, bearish momentum could reassert itself if $13.10 is breached. Investors should remain cautious of increased volatility and monitor volume for confirmation of either direction.